Chick-Fil-A

Details

A $1,175,000 acquisition loan for the development of a freestanding 4,815 square foot, Chick-Fil–A restaurant located in Whitehall, Lehigh County, Pennsylvania. The starting gross annual rental rate in year one is $102,500. The loan features an interest rate of LIBOR plus 220 basis points for construction converting to a fixed principal and interest repayment for five years. It was underwritten at 70% loan-to-value, and 92% loan-to-cost.

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